Invesco QQQ (NASDAQ:QQQ) Stock Price Up 1.5% - Should You Buy?

Shares of Invesco QQQ (NASDAQ:QQQ - Get Free Report) rose 1.5% during mid-day trading on Friday . The company traded as high as $530.87 and last traded at $531.14. Approximately 8,442,274 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 32,295,564 shares. The stock had previously closed at $523.05.

Invesco QQQ Stock Performance

The company has a 50 day moving average of $519.55 and a 200-day moving average of $494.13.

Invesco QQQ Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.8347 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Joel Adams & Associates Inc. bought a new position in shares of Invesco QQQ during the 4th quarter valued at $537,000. Global Retirement Partners LLC boosted its position in Invesco QQQ by 12.1% during the fourth quarter. Global Retirement Partners LLC now owns 147,108 shares of the exchange traded fund's stock valued at $75,206,000 after buying an additional 15,922 shares during the period. Destiny Capital Corp CO grew its stake in shares of Invesco QQQ by 2.7% during the fourth quarter. Destiny Capital Corp CO now owns 16,539 shares of the exchange traded fund's stock valued at $8,455,000 after buying an additional 431 shares during the last quarter. 3EDGE Asset Management LP increased its holdings in shares of Invesco QQQ by 38.5% in the fourth quarter. 3EDGE Asset Management LP now owns 1,839 shares of the exchange traded fund's stock worth $940,000 after buying an additional 511 shares during the period. Finally, Atlas Legacy Advisors LLC bought a new stake in shares of Invesco QQQ in the 4th quarter valued at about $906,000. 44.58% of the stock is owned by hedge funds and other institutional investors.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.